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Note 5 - Long-term Debt

3 Months Ended

Mar. 31, 2020

NOTE 5. LONG-TERM DEBT

Long-term debt, net of current maturities and debt issuance costs, consists of the following:

	*March 31, 2020*
								*Unamortized*
	*Interest*							*Origination*
	*Rates at*		*Outstanding*		*Unamortized*			*Fees and*			*Long-Term*
*(In thousands)*	*March 31, 2020*		*Principal*		*Discount*			*Costs*			*Debt, Net*
Bank credit facility	2.765	%	$	1,932,560	$	(608	)	$	(13,145	)	$	1,918,807
6.375% senior notes due 2026	6.375	%		750,000		—			(7,940	)		742,060
6.000% senior notes due 2026	6.000	%		700,000		—			(8,895	)		691,105
4.750% senior notes due 2027	4.750	%		1,000,000		—			(15,097	)		984,903
Other	11.148	%		58,222		—			—			58,222
Total long-term debt				4,440,782		(608	)		(45,077	)		4,395,097
Less current maturities				27,000		—			—			27,000
Long-term debt, net			$	4,413,782	$	(608	)	$	(45,077	)	$	4,368,097

	*December 31, 2019*
								*Unamortized*
	*Interest*							*Origination*
	*Rates at*		*Outstanding*		*Unamortized*			*Fees and*			*Long-Term*
*(In thousands)*	*December 31, 2019*		*Principal*		*Discount*			*Costs*			*Debt, Net*
Bank credit facility	3.753	%	$	1,305,634	$	(671	)	$	(14,255	)	$	1,290,708
6.375% senior notes due 2026	6.375	%		750,000		—			(8,271	)		741,729
6.000% senior notes due 2026	6.000	%		700,000		—			(9,244	)		690,756
4.750% senior notes due 2027	4.750	%		1,000,000		—			(15,584	)		984,416
Other	11.138	%		58,322		—			—			58,322
Total long-term debt				3,813,956		(671	)		(47,354	)		3,765,931
Less current maturities				26,994		—			—			26,994
Long-term debt, net			$	3,786,962	$	(671	)	$	(47,354	)	$	3,738,937

The outstanding principal amounts under our bank credit facility are comprised of the following:

March 31,

December 31,

(In thousands)

2020

2019

Revolving Credit Facility $ 865,000 $ 235,000

Term A Loan 230,787 234,300

Refinancing Term B Loans 771,873 795,034

Swing Loan 64,900 41,300

Total outstanding principal amounts under the bank credit facility
$ 1,932,560 $ 1,305,634

With a total revolving credit commitment of $945.5 million available under the bank credit facility, $865.0 million was borrowed on the Revolving Credit Facility, $64.9 million was borrowed on the Swing Loan and $12.6 million allocated to support various letters of credit, leaving a remaining contractual availability of $3.0 million as of March 31, 2020. As a precautionary measure to increase liquidity during the uncertainty of COVID-19, the Company increased the borrowings on its Revolving Credit Facility by $670.0 million on March 16, 2020.

See Note 12, Subsequent Events, for a discussion of an amendment to our bank credit facility.

Covenant Compliance

As of March 31, 2020, we believe that we were in compliance with the financial and other covenants of our debt instruments.